rants, profanity – just everything

Lordy

Layman’s explanation of our situation:
1. The current “Ponzi Pyramid of Death” monetary system is crumbling.

2. Right now, virtually every single large bank, medium-sized bank, hedge fund, pension fund, mutual fund, money market fund, stock broker and insurance company has failed or is failing. All the phony paper they have been trading back and forth is virtually worthless.

3. Somewhere between $10-$20 TRILLION (estimates are hard to make due to the opaque nature of the derivatives markets) in debt and derivatives “value” has been wiped off the books of the above-mentioned players.

4. The players are failing left-and-tight. ALL of the biggest, oldest Wall Street banks, plus the largest insurance company plus the two largest mortgage companies (Fannie and Freddie), plus the entire money market, plus the largest S&L (WaMu) and the fouth-largest bank (Wachovia), all failed in the span of three weeks. The rest of the thousands of institutions worldwide are mortally wounded will be toppling over soon.

5. Governments and central banks worldwide have already pumped approximately $5 trillion collectively to date to fight this systemic, sychronized, worldwide, complete, utter collapse. So far, their efforts have failed.

6. At this point, the fight will continue to the death. During these next few weeks, months, and even years the “economic convulsions” between the “Ponzi Pyramid” debt collapse destruction-deflation and government and central bank reflation/monetization/nationalization efforts will rage, with the back-and-forth battles getting wilder and wilder, until:

7. The entire world is plunged into final financial demise, with the people of all the nations suffering mightily. “Great Depression II” will ensue for the next five to ten years.

8. During this time, if the world doesn’t blow itself up in all the wars that will surely follow, tens of millions of people in the U.S. are going to learn to fear debt and living beyond their means. This is a good thing.

9.Eventually, hopefully, the U.S. pulls through in one piece, the people’s stock, bond, and housing assets are decimated, many have lost their jobs, but we all learn discipline, humility and sobriety and as a result, our national character grows.